CA Rover Holdings sells 4.25% stake in SBI Cards for Rs 3,943 cr

CA Rover Holdings on Wednesday divested 4.25 per cent stake in and Payment Services Ltd for Rs 3,943 crore through an open market transaction.

According to the bulk deal data available on the BSE, four crore shares of were offloaded by CA Rover Holdings at an average price of Rs 985.98 apiece. This translates to a deal value of Rs 3,943.92 crore.

CA Rover Holdings is a subsidiary of Carlyle Group.

On Wednesday, shares of settled 4.44 per cent lower at Rs 976.75 apiece on the BSE.

As per the company’s shareholding pattern, CA Rover Holdings held 15.86 per cent stake in SBI Cards as a public shareholder at the end of December 2020.

In March 2020, SBI Cards came out with its Rs 9,000-crore initial public offer. SBI Cards is the second-largest credit card issuer in India with an 18 per cent market share.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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